Eos Energy Enterprises (NASDAQ:EOSE) CEO Joe Mastrangelo Sells 159,154 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo sold 159,154 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $3.61, for a total value of $574,545.94. Following the transaction, the chief executive officer directly owned 1,947,586 shares in the company, valued at $7,030,785.46. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Eos Energy Enterprises Stock Down 6.6%

Shares of Eos Energy Enterprises stock opened at $3.37 on Wednesday. The business has a 50 day moving average of $6.12 and a 200 day moving average of $8.14. Eos Energy Enterprises, Inc. has a 52 week low of $3.21 and a 52 week high of $19.86. The company has a market cap of $1.14 billion, a PE ratio of -0.50 and a beta of 2.68.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.34. The company had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. On average, research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D bought a new position in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $1,834,000. Baker Avenue Asset Management LP bought a new stake in shares of Eos Energy Enterprises in the 4th quarter worth approximately $11,542,000. Vanguard Group Inc. grew its stake in shares of Eos Energy Enterprises by 19.8% in the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after buying an additional 3,080,012 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Eos Energy Enterprises in the 4th quarter worth approximately $22,330,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in Eos Energy Enterprises by 2,431.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 845,314 shares of the company’s stock valued at $9,687,000 after buying an additional 811,922 shares in the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises News Roundup

Here are the key news stories impacting Eos Energy Enterprises this week:

• Positive Sentiment: Eos battery technology is expected to be used in Bimergen Energy’s 480 MWh Texas battery-storage portfolio, including the 100 MW/400 MWh Redbird project. The projects’ closure could provide Eos with potential future equipment demand and industry validation, although the announcement did not disclose an Eos contract value or revenue timing. Bimergen Energy battery storage project sales
• Neutral Sentiment: Eos is expected to report quarterly results on Wednesday. Investors will be watching whether the company can sustain its recent earnings and revenue outperformance, when it previously reported $0.12 in EPS versus expectations for a $0.22 loss and revenue of $56.96 million versus a $54.32 million consensus estimate. Eos Energy Enterprises expected earnings
• Negative Sentiment: CEO Joe Mastrangelo sold 159,154 shares for approximately $574,546, reducing his stake by 7.55%. Chief Accounting Officer Sumeet Puri also sold 29,167 shares, cutting his holdings by 12.60%. These transactions add to investor concerns about insider confidence, despite Puri’s sale being made under a pre-arranged Rule 10b5-1 plan to cover tax obligations. Eos insider selling and new one-year low
• Negative Sentiment: Insider Nathan Kroeker sold 110,417 shares for about $371,001, reducing his position by 11.06%. The sale was also executed under a 10b5-1 plan and related to tax withholding, which somewhat reduces its signaling value but still increases near-term selling pressure.

Analysts Set New Price Targets

EOSE has been the subject of a number of research reports. Needham & Company LLC initiated coverage on shares of Eos Energy Enterprises in a research note on Friday, May 22nd. They issued a “buy” rating and a $11.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. Stifel Nicolaus decreased their target price on Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Truist Financial began coverage on Eos Energy Enterprises in a research note on Monday, July 13th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.17.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.